- Acquisition of a 77% interest in Teck’s steelmaking coal business for US$6.93 bn
Glencore plc (“Glencore”) announces that it has entered into a binding agreement with Teck Resources Limited (“Teck”), for the acquisition of a 77% effective interest in the entirety of Teck’s steelmaking coal business, Elk Valley Resources (“EVR”), for US$6.93 bn in cash, on a cash free debt free basis, subject to a normalised level of working capital.
SMT Scharf AG (WKN A3DRAE, ISIN DE000A3DRAE2), one of the world’s leading suppliers of customised transport solutions and logistics systems for underground mining, posted consolidated revenue of EUR 54.1 million in the first nine months of the 2023 fiscal year (9M/2022: EUR 59.6 million). This corresponds to a decrease of 9.2 % compared to the previous year. In the third quarter of 2023, however, SMT Scharf recorded an upward trend, with revenue and earnings exceeded the previous year’s level. The SMT Scharf Group increased its revenue slightly by 1.4 % year-on-year to EUR 22.4 million (Q3/2022: EUR 22.1 million), reflecting a brightening of the business climate in the mining markets of relevance to the Group.
In support of the shift towards electrification and the advancement of autonomous and optimization technologies in surface drilling, Sandvik has acquired a new testing facility in Finland to develop and prove future surface drilling technologies.
Cimic’s Sedgman appointed managing contractor for Queensland Government Critical Minerals Facility
Sedgman, a member of the Cimic Group, has been appointed as the Managing Contractor for the delivery of a critical minerals processing facility, the first of its kind in the Asia Pacific. Sedgman will work closely with the Queensland Government to develop the detailed design and construction program for the Queensland Resources Common User Facility (QRCUF).
The QRCUF will accelerate the development of commercial mining projects in Queensland, promote investment in advanced mineral manufacturing opportunities, and support supply chain and industry development.
The facility will allow mining companies to trial mineral processing techniques, demonstrate project feasibility at scale and provide the market with product samples to accelerate commercial development opportunities.
Located at the Cleveland Bay Industrial Park in Townsville, the facility supports the growth of the state’s emerging critical minerals sector and will help create good jobs in North Queensland.
The state-owned mineral processing facility is intended to be operational for vanadium processing in 2025, with capacity to expand over time to encompass processing other critical minerals like cobalt and rare earth elements.
Cimic Group Executive Chairman Juan Santamaria said: “As Queensland moves towards clean energy production, this facility will assist the industry to trial production processes for commercialisation. With an initial focus on vanadium mining, the facility will support the development of large-scale batteries and the renewable energy transition.”
Sedgman Managing Director Grant Fraser said: “This is a significant milestone for Sedgman as we partner with the Queensland Government to deliver the design and construction program for the Queensland Resources Common User Facility. Minerals processing is at the heart of what we do, and we are pleased to bring our expertise to this unique project based in regional Queensland.”
Source: Hochtief AG
Epiroc is taking actions to promote efficiency within its Tools & Attachments segment. Mainly, it will consolidate its European manufacturing of hydraulic attachment tools to improve competitiveness. As a result, the manufacturing in Essen, Germany, will be closed.
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